Consolidated Statement of Cash Flows of the Gorenje Group
| in TEUR | Note | 2011 | 2010 |
|---|---|---|---|
| A. CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Profit for the period | 9.106 | 20.024 | |
| Adjustments for: | |||
| - depreciation of property, plant and equipment | 21 | 43.767 | 46.227 |
| - amortisation of intangible assets | 20 | 6.431 | 6.010 |
| - investment income | 18 | -15.199 | -12.485 |
| - finance expenses | 18 | 40.587 | 46.451 |
| - gain on sale of property, plant and equipment | 13 | -3.644 | -2.321 |
| - negative goodwill | 13 | 0 | -13.337 |
| - revaluation operating income | 13 | -3.563 | 0 |
| - income tax expense | 19 | 2.006 | 2.448 |
| Operating profit before changes in net operating current assets and provisions | 79.491 | 93.017 | |
| Change in trade and other receivables | 10.297 | -80.635 | |
| Change in inventories | 11.344 | -39.612 | |
| Change in provisions | -12.021 | 25.664 | |
| Change in trade and other liabilities | -38.265 | 60.162 | |
| Cash generated from operations | -28.645 | -34.421 | |
| Interest paid | -24.194 | -23.607 | |
| Taxes paid | -4.595 | -7.272 | |
| Net cash from operating activities | 22.057 | 27.717 | |
| B. CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Proceeds from sale of property, plant and equipment | 7.302 | 6.775 | |
| Proceeds from sale of financial assets available for sale | 0 | 5.621 | |
| Interest received | 3.678 | 3.046 | |
| Dividends received | 118 | 305 | |
| Liquidation of subsidiary | 10.747 | 0 | |
| Disposal of subsidiary | 7.143 | 0 | |
| Acquisition of subsidiary | 0 | 1.144 | |
| Acquisition of property, plant and equipment | -41.089 | -39.358 | |
| Acquisition of investment property | -9.819 | 0 | |
| Available-for-sale investments | -33 | -1.695 | |
| Loans | 9.325 | -2.564 | |
| Acquisition of other investments | -14.246 | 14.341 | |
| Acquisition of intangible assets | -6.379 | -5.310 | |
| Net cash used in investing activities | -33.253 | -17.695 | |
| C. CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Repurchase of non-controlling interest | 0 | -6.902 | |
| Capital increase | 0 | 24.920 | |
| Borrowings / Repayment of borrowings | 30.088 | 27.558 | |
| Net cash used in financing activities | 30.088 | 45.576 | |
| Net increase in cash and cash equivalents | 18.892 | 55.598 | |
| Cash and cash equivalents at beginning of period | 82.728 | 27.130 | |
| Cash and cash equivalents at end of period | 101.620 | 82.728 | |
| Source: Data from Gorenje Group | |||